Ripple (XRPUSD)

[WiseYoda]

FLAREFINANCE/STAKING: Ok amigos, heres some homework for you guys. Ive been looking into how to stake my WSGB and EXFI in FlareFarms, but everyone is using Metamask. Remember there are 6 products in FlareFinance but Im only doing FlareFarm as I haven’t study the others yet. In FlareFarm many are connecting to it through Metamask, but what about those who have all their WSGB and EXFI in Bifrost, then what? If you’re like me the last thing you’ll wanna do is start transferring your WSGB & EXFI into Metamask especially for those who are delegating WSGB in Bifrost. Heres the answer: Goto your browser inside your Bifrost wallet and put this address in; http://xff.flr.finance/ and afterward add it to your bookmarks for easy goto access whenever you want to visit FlareFarm or any of the other FlareFinance products through your Bifrost Wallet. While accessing FlareFarm connect using the Songbird Network not Ethereum Network. Once there you’ll see multiple liquidity pools to stake on, like 9 total. The 4 liquidity pools that are one-sided where you can only stake one token such as WSGB, EXFI, CAND or SFIN have little to no risk. I say little risk because it’s experimental finance so of course theres a risk as anything is possible. The other 4 or 5 liquidity pools that are two-sided (EXFI/SGB, SGB/CAND, EXFI/CAND, SFIN/CAND) are subject to impermanent loss (inherent risk) due to price fluctuations so be careful if one choose one of these. Personally, Im taking the low to no risk pathway in staking my EXFI and WSGB. Regardless, if one decides to stake in any one of these liquidity pools, does so at their your own risk. Hope this breakdown encourages some to take advantage of this opportunity thats being presented with FlareFinance and the tokens were getting. Learning this now will make navigating through the Flare Network as easy as cheesecake when it goes live. Lets roll!

PS: To those who earn rewards thru FTSO with their WSGB will still earn rewards if they stake their WSBG but the only catch is you won’t be able to choose your provider. Apparently the provider is chosen automatically and believe its DeFi Oracles but not fully sure. Either way if you stake your WSGB you’ll still collect weekly SGB rewards but perhaps a little less depending on the reward rate of the chosen provider.